In a new European Retail Theft Barometer which monitors the costs of shrinkage and crime for Europe’s retailers, Iceland is the only country were employees of the retailers steal more than the customers.
In Iceland 41.3% (ISK 850 million) of shrikage is due to staff theft while in the other 24 European countries the average staff theft came to 29% of shrinkage. When it comes to customers, the statistics are reversed; 39.1% of retail shrinkage (ISK 800 million) in Iceland is due to customer theft while the average in the other European countries is 47.9%.
According to the report increasing concern is being shown in all countries about theft by staff. Countries with the largest proportion of staff theft are Iceland, UK, Poland and Slovakia. The lowest proportions of staff theft are found in Greece, Portugal and Switzerland.
Shrikage in Icelandic retailers due to theft and mistakes amounts to 1.1% of the turnover, about ISK 2 billion per year. According to the report if the internal mistakes are not accounted for and only theft and costs of security measures are taken into consideration, together with estimated costs incurred by police and the judiciary, each Icelander pays about ISK 11.000 extra per year because of these crimes.
According to the report shrikage has reduced for the last three years but staff theft has increased for the last two. The reason for a reduced shrikage are increased and more sophisticated security measures.
